Spain's EiDF swims in orders for solar self-consumption

Spanish solar PV installer Energia Inovacion y Desarollo Fotovoltaico SA (BME:EIDF) said on Wednesday that it will close the year 2021 with a backlog of orders for 110 MW of self-consumption arrays.

The firm said that the orders, which are due for delivery next year, are worth about EUR 65 million (USD 73.5m), much more than it projected in the 2022 revenue forecast.

In the third week of October, EiDF achieved a weekly sales record, signing contracts for 17.5 MW of PV installations with a combined value of EUR 13 million, it said.

EiDF specialises in installation of solar panels for self-consumption for businesses only.

The company points to high electricity prices as the main reason why businesses regardless of their size want to consume self-produced solar energy. The other reason is that they also want stick to their sustainability commitments and reduce emissions, EiDF noted.

Wholesale electricity prices have been soaring in Spain over the past 12 months, and will reach an average of EUR 311.0 per MWh in the day-ahead market on December 24, according to Iberian wholesale market operator Omie. For reference, the average wholesale electricity price for the whole month of December of 2020 was EUR 41.97/MWh.

(EUR 1.0 = USD 1.131)

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